Proactive Investors - Run By Investors For Investors

Amazon.com declines after e-commerce giant issues disappointing 1Q guidance

Earnings beat expectation, but the company's outlook pushed shares down
packages
The company said its first-quarter sales will fall shy of analysts’ forecasts

Amazon.com Inc (NASDAQ:AMZN) fell Friday a day after the e-commerce giant reported disappointing guidance that overshadowed strong quarterly results.

Net sales are expected to be between $56 billion and $60 billion in the first quarter, or to grow between 10% and 18% compared with a year earlier. The company said it's expecting an unfavorable impact of about 2.10 percentage points from foreign-exchange rates.

Shares fell 4.3% in Friday's premarking trading. 

READ: Amazon takes over from Microsoft as world's most valuable listed company

Wall Street analysts were forecasting $61 billion in first-quarter net sales.

The company reported fourth-quarter earnings of $6.04 per share on revenue of $72.4 billion, beating street estimates of $5.67 per share on $71.61 billion in revenue.

The fourth-quarter is generally the largest for Amazon because it includes the holiday shopping season.

Operating income is expected to be between $2.3 billion and $3.3 billion in the first quarter, compared with the year-ago period’s $1.9 billion. 

Amazon shares are trading about 18% below their August 2018 high of $2,050.

Contact Katie Lewis at [email protected]

View full AMZN profile View Profile

Amazon.com Timeline

Newswire
February 14 2019

Related Articles

drainpipes
May 23 2019
Company is looking for more acquisitions after integration of Metro Rod
H&T
May 21 2019
"The group's performance over the past three years demonstrates the continuing success of our strategy to access more customers and markets," said chief executive John Nichols.
medical imaging graphic
Thu
Here we take a closer look at the imaging and diagnostics firm IQ-AI

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use